The National Company Law Tribunal (NCLT) today approved Tata Steel's bid for debt-ridden Bhushan Steel. The tribunal also dismissed a plea filed by the employees of Bhushan Steel opposing Tata Steel's bid and imposed a fine of Rs 1 lakh.

The market capitalisation of BSE firms rose to Rs 142.24 lakh crore, from Rs 121.54 lakh crore as on March 31, 2017. While the Sensex gained 3,348.18 points, the Nifty closed with gains of 939.95 points, or 10.25 per cent during 2017-18.

India's largest integrated power company Tata Power has sold its stakein two group companies to cut its mounting debt burden. The company hassaid its board has approved the sale of its shares in TataCommunications and Panatone Finvest to Tata Sons and its affiliates.